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hotels are historically understood to have been the first type of lodging management association. As was reviewed earlier, the earliest lodgings were offered out of people's homes.
hotels are historically understood to have been the first type of lodging management association. As was reviewed earlier, the earliest lodgings were offered out of people's homes.
Owner operated
hotels are those where the owner has hired additional (nonfamily) personnel to help run the property. These hotels can be large or small. The overall management remains with the owner, but day-to-day operations can be in other hands.
hotels are those where the owner has hired additional (nonfamily) personnel to help run the property. These hotels can be large or small. The overall management remains with the owner, but day-to-day operations can be in other hands.
Owner managed
are also not chain affiliated. In these hotels, the owner has no role in
management or day-to-day operations. An independent group of managers are responsible to the owner for the hotel's performance.
are also not chain affiliated. In these hotels, the owner has no role in management or day-to-day operations. An independent group of managers are responsible to the owner for the hotel's performance.
Independent hotels
are independently owned hotels that affiliate themselves with a chain.
In a franchise agreement, the owner (franchisee) pays a franchise fee to the chain (franchiser) in exchange for the rights to use their name.
are independently owned hotels that affiliate themselves with a chain. In a franchise agreement, the owner (franchisee) pays a franchise fee to the chain (franchiser) in exchange for the rights to use their name.
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is the result of a product or service a hotel makes available to guests for a price. The size and scope of these sources can differ greatly from hotel to hotel.
is the result of a product or service a hotel makes available to guests for a price. The size and scope of these sources can differ greatly from hotel to hotel.
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is traditionally the main product of any hotel. A hotel's primary purpose is to provide accommodations.
is traditionally the main product of any hotel. A hotel's primary purpose is to provide accommodations.
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is defined as a food and beverage point of sale. Restaurants, bars, lounges, room service, and other outlets can provide a hotel with significant revenue sources.
is defined as a food and beverage point of sale. Restaurants, bars, lounges, room service, and other outlets can provide a hotel with significant revenue sources.
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source can be a hotel's business center, golf course, tennis center, audio/visual services, or gift shop.
source can be a hotel's business center, golf course, tennis center, audio/visual services, or gift shop.
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determined by comparing the sales revenue versus the costs incurred in provicing a service or product.
determined by comparing the sales revenue versus the costs incurred in provicing a service or product.
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One must look at what it costs the hotel to keep a room up and running in refation to what that room is sold for to the average guest.
One must look at what it costs the hotel to keep a room up and running in refation to what that room is sold for to the average guest.
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Flashcards
Owner operated
Owner operated
Hotels run by the owner without non-family staff.
Owner managed
Owner managed
Hotels managed by non-family staff, but ownership stays with the owner.
Independent hotels
Independent hotels
Hotels without chain affiliation, solely managed by hired managers.
Franchised hotel
Franchised hotel
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Revenue source
Revenue source
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Sleeping room
Sleeping room
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Outlet
Outlet
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Ancillary revenue
Ancillary revenue
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Profit margin
Profit margin
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Room cost
Room cost
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